The problem of small business owners in the United Arab Emirates "skipping" the country over unpaid debts has been contained, although it is set to remain an issue well into next year, the head of the Gulf state's banking federatio
Banks in the UAE have been given until June 16 to assess the impact of new accounting standards, which are likely to raise the impairments required against bad loans, according to a central bank document seen by Reuters.
The UAE banks have agreed a plan to help small-and medium-sized businesses (SMEs) struggling with debt, including suspending payments and restructuring loans.
Many businesses in the Gulf have had difficulty repaying hefty debts af
Banks in the United Arab Emirates are cutting credit lines to small- and medium-sized businesses (SMEs) after a spate of defaults, posing a threat to one of the economy's main drivers.
As weak oil prices prompt a drying up of
Arqaam Capital, the specialist emerging markets investment bank, said in a strategy note that the expected UAE Federal bond issue would ease deposit pressure on the domestic banking sector.
The bond issue will also result in limit
SAS, a global leader in analytics, is offering the SAS Risk Data Aggregation and Reporting to help clear mismatched data infrastructures and siloed processes within banks by building the needed bridges between these data islands or stores.
Liquidity in the United Arab Emirates banking sector is still good and the government has adequate means to manage liquidity, the chief executive of Dubai's Mashreq bank said on Tuesday.
"Our government has lots of resour
Abu Dhabi Islamic Bank (Adib) will focus on winning more business in the United Arab Emirates' expatriate community this year as growth in the national banking sector slows, the bank’s chief executive said.
Total UAE ban
Banks in the UAE are not meeting customer expectations, according to a recent study by TNS, a leading global custom market research organisation.
The study looked closely at the services offered by corporate banks with the outcome
Mashreq, Dubai's third-biggest lender by assets, is interested in acquiring Citigroup's Egyptian retail business, Mashreq's chief executive said on Sunday.
The bank is holding talks with Citi on the matter, Abdul Aziz